PRESS RELEASE. PARSIQ launches its extremely anticipated IQ Protocol – the primary risk-free collateral-less decentralized finance protocol constructed particularly for the Software program-as-a-Service (SaaS) market.
thirty first March 2021, Tallinn, Estonia – PARSIQ has launched their revolutionary IQ Protocol on testnet (Ethereum) – a decentralized finance (DeFi) resolution for the SaaS market. IQ Protocol is the world’s first risk-free, collateral-less DeFi protocol to tokenize SaaS subscriptions within the DeFi area with a round financial system. IQ Protocol options a number of normal DeFi companies, together with staking, lending, and borrowing.
The launch marks PARSIQ’s official entry into the DeFi area. If the testnet launch is profitable, IQ Protocol’s mainnet is scheduled to launch in Q2 this yr, and the workforce already has curiosity from a number of DeFi tasks. Moreover, the PARSIQ workforce is contemplating launching the mainnet on a number of different chains, together with Binance Sensible Chain (BSC), and Solana (SOL), with which PARSIQ has already integrated.
IQ Protocol & Energy Tokens
The IQ Protocol brings a brand new perspective to DeFi options for the mainstream atmosphere. Not solely is the upkeep of the protocol’s community fully-trustless, however the protocol itself is open-source. Moreover, PARSIQ’s revolutionary choice to take away the requirement of collateral to take part in or construct on IQ is one other first for the DeFi area, nullifying the dangers related to DeFi participation.
IQ Protocol additionally takes an revolutionary method to token utility by means of the introduction of Energy Tokens. In contrast to typical utility tokens which signify a hard and fast quantity of utility, Energy Tokens generate utility over time. Subsequently, holders of Energy Tokens “subscribe” to utility moderately than possessing a hard and fast amount.
For instance, the standard “tomato token” would signify rights to gather 1 kg of tomatoes, whereas a Energy “tomato token” (with weekly movement and expiry in 1 yr) would signify a proper to gather 1 kg of tomatoes per week for a yr.
Energy Tokens are housed in a “Energy Enterprise” – a sequence of sensible contracts which combination a number of IQ Protocol options, together with governance, funding, and the power to mint new Energy Tokens.
The shift to a subscription-first mannequin gives large efficiency advantages for blockchain-based networks together with off-loading a major load of transactions away from the main-chain. And in the most effective case, most main-chain transactions aren’t wanted anymore.
A brand new, upgraded tokenomics mannequin additionally accompanies IQ’s launch, requiring customers to carry PRQ, PARSIQ’s native token. IQ permits customers to borrow or “lease” PRQ through IQ Protocol by paying a charge. In impact, they pay a subscription charge, with the proceeds rewarding lenders in a risk-free style. Accordingly, IQ’s mannequin rewards holding in a easy however efficient method which additionally ensures the long-term safety of its community.
Sturdy Partnerships & Developments
IQ’s launch comes after a profitable begin to the yr for the PARSIQ workforce. The present community lately integrated with the Solana ecosystem, permitting SOL customers to mix knowledge streams and write customized eventualities utilizing PARSIQ’s user-friendly scripting language.
PARSIQ additionally built-in its Sensible Triggers characteristic with knowledge market platform Ocean Protocol. The integration provides Ocean customers the power to automate reactions to particular knowledge inputs utilizing PARSIQ’s distinctive monitoring resolution.
This was additionally prolonged to Binance Sensible Chain (BSC), with BSC customers capable of profit from the identical Sensible Triggers characteristic. As a part of the BSC integration, PARSIQ additionally grew to become a part of Binance’s $100 million accelerator fund as a part of the top-exchange’s efforts to encourage revolutionary new tasks to construct on BSC.
Furthermore, PARSIQ has built-in with a number of different tasks within the DeFi area, together with Balancer, PAID Community, Injective Protocol, and plenty of extra. For extra on these integrations, try PARSIQ’s blog.
PARSIQ is a next-generation blockchain analytics platform constructed to attach blockchain exercise to off-chain purposes and gadgets. It gives a variety of revolutionary options for actionable knowledge together with customizable event-based triggers, knowledge monitoring options, and real-time automation focused on the SaaS area.
For extra about IQ Protocol, PARSIQ, and its future plans, go to PARSIQ’s website.
Join with PARSIQ on LinkedIn: https://www.linkedin.com/company/parsiq/
Comply with PARSIQ on Twitter: https://twitter.com/parsiq_net
Be a part of the PARSIQ group on Telegram: https://t.me/parsiq_group
Learn PARSIQ’s weblog on Medium: https://medium.com/parsiq
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